Hello All,
As per my understanding a Document of title can/is Negotiable.
The LC Calls for a Insurance Certificate in a negotiable form covering all risk's.
What does that mean, as the Certificate will be in the name of the Applicant as we are selling to them.
Your views and clarification awaited.
Regards,
Krish
Insurance Certificate In A Negotiable Form Covering All Risk
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KRISH
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mskhan42
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Negotiable Insurance Certificate
Dear Krish,
It means insurance certificate issued (insured) "To Order of" and blank endorsed.
Regards,
Muhammad Saqib Khan
It means insurance certificate issued (insured) "To Order of" and blank endorsed.
Regards,
Muhammad Saqib Khan
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dinesh2476
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It should be transferrable
Krish,
yes it should be transferrable rather than negotiable or else the document should clearly evidence how the document should be made. However, still we are getting LC from many countries stating negotiable which should be avoided.
One small example. LC states insurance document states to the order of xxxxxxxxx party. Insurance document evidence party name xxxxxxxxxxxx without mentioning to the order in front of the name. Will this be a discrepancy?
Thanks & Regards
Dinesh
yes it should be transferrable rather than negotiable or else the document should clearly evidence how the document should be made. However, still we are getting LC from many countries stating negotiable which should be avoided.
One small example. LC states insurance document states to the order of xxxxxxxxx party. Insurance document evidence party name xxxxxxxxxxxx without mentioning to the order in front of the name. Will this be a discrepancy?
Thanks & Regards
Dinesh